Rift Oil Share Discussion Threads

[lgw] 24/9/2010 08:30

and this is short and sweet also re RRR,

[lgw] 24/9/2010 08:24

For those interested in researching RRR two interesting posts from the RRR thread today.

"actonovator - 24 Sep'10 - 07:54 - 13514 of 13578

I know we are all green with envy at the SOLG holders, but remember that half of the 61p valuation was the Mt IDA royalty. The next very significant milestone towards the royalty is the JORC statement Jupiter says they will release by December. Whilst this event will not add the full 30p to RRR it will add a significant chunk, some the next morning after the Aussie release, but much of it will be reflected in a steady rise - with occasional, inevitable retraces - in the share price from now till December. "

[cashandcard] 23/9/2010 18:19

Bigdog5,

Those are really conservative numbers you are using ($8/bbl) for saleable, high-quality light-oil. For the north sea, $10 is appropriate for light-oil and maybe $12+ where infrastructure is in place.

As it stands now, Encore have 15% of Catcher discovery (indicated 300mmbbls OIP) and 16.6% of Cladhan (thought to be upto 200mmbbls just as first sidetrack 'up-dip' was complete). Both fields are yet to book reserves because they need appraisal drilling. Initial indications are fab.

Catcher has opened-up a 'mini-province' in that part of the central north sea. In a couple of weeks, the galaxy-2 will be back at Catcher for a drill programme of upto 4 wells. Each one to be drilled on Catcher-type sandstone prospects. An article a few months ago leaked that potentially 800mmbbls could be on the block just in the Cromarty/Caran sandstone plays. The deeper and much larger Jurassic plays have not yet been tested.

Cladhan was drilled 2 years ago when the markets were crashing. A 110ft oil column was discovered. The recent re-entry and 'updip' sidetrack found 159ft oil column making it a total column of circa 270ft. This column flowed at a stable rate of 5903bopd. That rate was restricted by surface facilities and operator SLG said it was capable of 15,000bopd. CURRENTLY, a 'downdip' sidetrack is being drilled to locate oil-water contact so its believed the column will get even bigger. If no O/W contact is found then watch how it surges. There has been talk in recent days of 300-400mmbbls OIP being being present if the 'downdip' sidetrack is succesful. SLG has compared Cladhan to the north sea Magnus field (in terms of reservior characteristics). Magnus has something like 55% recovery factor and good quality oil.

Take a look over it, I see it being closer to £2 by Xmas.

Cash

[bigdog5] 23/9/2010 17:53

Cash, having been in EO i suspect that they only have maximum 15% of any drill/licence.

So what have they already booked barrel wise and what could they get in the very near future.

Bearing in mind the locations and UK legislation can i assume a barrel will be valued around $8 in the floor?

They have 290m shares currently still?

[cashandcard] 23/9/2010 17:01

Evening LGW,

Will have a look at RRR, have seen it mentioned a few times. A few days ago SHG announced financing at a good price. Although the dilution, it does mean their Chunya gold mine development is now funded. I expect the JORC to increase there in due course.

If you folks are not already in it, take a look at Encore oil (EO.). It has been on a run recently with good reason. The Catcher discovery a few months ago found a resource believed to be 300mmbbls OIP. Now, its believed that Encore and partners have found a light-oil accumulation at Cladhan that could be in excess of 200mmbbls OIP. In fact, some say they have grazed the tip of a very large reservior that could fan out much further than initially expected as the original well was drilled on the flank of the structure. News on Cladhans down-dip sidetrack is expected soon (lets hope they don't find oil-water contact).

The real driver in the next few weeks will be the Catcher appraisal programme. The programme entails the drilling of upto 4 wells on Catcher-like prospects just west of the Catcher discovery in the same, derisked sandstone play. The wells are cheap and quick to drill at 15-20days each. They should be busy from early August until year end. Potential is huge, maybe another two-four Catchers near-term? Take a look at it guys, the Galaxy-2 jack-up rig is set to start operations in the next couple of weeks.

Cash

[farnham] 23/9/2010 16:43

evening all, TSTR is a punt,if you have a few k spare,could be a quick mover.

Well done on GKP,I bought in at 74p..........thankfully all my dosh from RIFT and others was pointed in the direction of MTA at .4p from memory and RKH at 14.5p,shame MTA didn't fulfil but did v well there.......thanks to someone here i think.

THOR looks interesting as does TRP and I'm not chucking my RPT away just yet.

gd luck.

[bigdog5] 23/9/2010 16:35

Should have nagged us more about it!!!

[lgw] 23/9/2010 15:58

yes I put most of my rift money into GKP at 12p, its still there until gkp gets taken out.

[bigdog5] 23/9/2010 15:37

Cheers.

Btw, was it you LGW that mentioned GKP around the time that Rift was stolen from us?

[lgw] 23/9/2010 15:30

well that Edison guy is a well respected analyst and I am told rather conservative.
Read the report and dyor it seems good to me. I am in for 295k.shares
Edit... just looked and I have 495k shares

[on target] 23/9/2010 15:20

Read this and find out:

[offerman] 23/9/2010 15:14

2nd The dogs question.

[bigdog5] 23/9/2010 14:53

LGW, i dont look at miners as a norm so what is it about RRR that can warrent that sort of upside ?

[lgw] 22/9/2010 13:54

whooa RRR could multibag fairly rapidly, read this report asap
Redrock at 2.5p and this report values it at 20-61p

[lgw] 20/9/2010 14:45

Thanks offerman and Bigdog.
GOO getting exciting again this pm

[bigdog5] 20/9/2010 13:26

PCI, has the potential and i got in there with Rift money, more than doubled but wished i had known about GKP then. Algeria isnt the best place for exploration and GKP have/are in the process of getting out.

Apparently there are rumours of £3.60 bid for GKP. Absolute waste of time and money. I'm hopeful of a bun fight when silly bids come in. The bare minimum i will now be happy with there is £5 billion/£7.40 a share.

Sheik Adi is going to be a monster (5 billion plus) and with 80% of it and at least 35% recovery its worth £5 on its own. Shaikan on the same basis with 10 billion is worth over £6. We dont know what we have at Akri Bijeel but its probably a billion net to GKP and then there's BB. Plus two bigger prospects at Akri. We ought to be thinking £15 at least when proved up but we wont get that far. Anything under £7.40 is another Rifting imho.

[offerman] 20/9/2010 11:42

LGW:

-Up to 11tcf gas 4-5 recoverable, Vast amounts of condensate in top 10 discovery for 2010.

-Farm in partner by year end adding much value.

-Italian Elsa 100MBO recoverable and proved up in 1992 to go ahead albeit delayed sue to coastal 5mile ban (This could be for new permits though not existing as pci is).

-Possible entry in to Iraq or Kurdistan

- The biggy is Isarene (Algeria) where drilling to prove up starts Beginning of October with a multi well campaign to see what can be recovered and booked for production.

PCI, is at a very nice entry point at 10.5p

Good luck whatever you decide.

[lgw] 20/9/2010 11:33

also got mta but still hopeful for a good result there, never researched pci what are you expecting?

[offerman] 20/9/2010 11:30

Complete opoosite for me , i`m well down on mta and pci not doing great at present but i`ll hold on as believe pci will come good within 6 months.

Mta, well thats just one fat risk i guess.

[lgw] 20/9/2010 11:07

I am expecting £5+ takeout on GKP many longterm holders are expecting a lot more than £5.
£2 no that would be another Rifting.

[bigdog5] 20/9/2010 11:02

I thought RKH would add a £1 on flow test news, it gained 85p Friday. Its now up another 50p.

There is now good reason to believe they have at least double the 242 million barrels plus its being valued at $10 in the floor. They have 7.5% interest in the next Des wells. What a lovely share!!

GKP up on no news. Its going through £2 on all the news thats backing up currently. Thats a fast 20%. Cheap as cous cous.

I love it when a plan comes together.

I only need Hawk to flap its wings now.

[lgw] 18/9/2010 17:11

Rumours that the Iraqi Govt is soon to be formed and Kurds getting Speaker of the Parliament and the Oil Ministry.. Should be good for GKP over the next few weeks.
Was in IQE about ten years ago by the way, anything interesting?

[offerman] 18/9/2010 14:06

Bengee, good advice from the Big Dog, i would do the same but am waiting for paint to dry with my other 2 holdings then will enter the fray once more with gkp and a small punt on trp as if they hit oil that will yield massive profits.

[bigdog5] 18/9/2010 13:34

Buy if you can on the dips Bengee, you wont regret.

Bd5's prediction of takeaway price. North of £5.